The Short Take:
- Total net revenue for Penn National Gaming’s Q3 2018 came in at $789.7 million
- The company’s largest revenue segment was Gaming, which produced $646.3 million in revenue
- PENN’s hospitality division which consists of food, beverage and hotels, saw revenue of $138.8 million for the quarter
Earlier today, Penn National Gaming (PENN) announced their third quarter results for the quarter ended September 30, 2018. Included in the company’s press release were details on each of the company’s main revenue segments.
The company’s largest revenue segment, Gaming, came in at $646.3 million for Q3. Revenue from its casinos contributed 81.9% of PENN’s $789.7 million total net revenue during the quarter.
PENN’s second largest revenue segment is its hospitality operations which the company calls Food, Beverage, Hotel and Other. This segment obviously includes the restaurants, bars and hotels at PENN properties. These hospitality operations contributed 17.6% of total net revenue and totaled $138.8 million for the quarter.
The company’s last two revenue segments contribute significantly less to total revenue than the gaming and hospitality segments. Reimbursable Management Costs and Management Service & Licensing Fees are just 0.5% and 0.1% of total net revenue, respectively.
The charts below show the Q3 2018 revenue per segment and how much each segment contributes to PENN’s total revenue.
When PENN issues its 10-Q for the third quarter we will have a deeper dive into the company’s key metrics, so check back soon!